This property had been listed with a number of agents for some time. After a number of conversations with the owner, he agreed to give RWC Noosa an exclusive agency.
Advertising was limited to the internet.
Some of the strengths of this investment property were: * A strong lease expiring in 2017
* The length of time the current tenant has been in place
* The property’s beach front position
* Restrictions on the number of pharmacies in an area
Due to the above, we sent the property details to a number of financial planners, accountants and lawyers that I have strong relationships with. This is the type of property that SMSF clients are hunting for.
There was strong interest from this sector as well as the internet advertising. At this point there was a significant difference between what the market was willing to pay and what the seller felt the property was worth.
RWC Noosa had recently sold one adjoining property and would go on to sell the other neighbouring property. This sales evidence was presented to assist the seller understand where the market was pricing his property. Formal offers were presented, however they were still not at an acceptable price to the seller.
Over time, numerous conversations and additional offers, the vendor started to understand how the market was valuing his property.
Eventually an offer was made from an interstate (SMSF) buyer that was accepted. This required some give and take from both parties.
The vendor can now move on to other projects and the buyer is happy to own a piece of beach front property in a sought after precinct.
|Method of Sale:||Offers to Purchase|
|Marketing Time Frame:||Listed June 2013|
|Sale Date:||17 March 2014|
|Sale Price:||$970,000 + GST|